Cost of Bank Loans

decimal places.

a$.$ A $13\%$ annual rate on a simple interest loan, with no compensating balance required and interest due at the end of the year.

$$

b$.$ A $10\%$ annual rate on a simple interest loan, with a $25\%$ compensating balance required and interest due at the end of the year.

$\%$

c$.$ A $8\mathrm{.}75\%$ annual rate on a discounted loan, with a $10\%$ compensating balance.

$\%$

d$.$ Interest figured as $9\%$ of the $$47,500$ amount, payable at the end of the year, but with the loan amount repayable in monthly installments during the year.

$3\%$

Which alternative has the lowest effective annual interest rate?